Preferred Bank Declares Quarterly Dividend of $0.75 (NASDAQ:PFBC)

Preferred Bank (NASDAQ:PFBC) announced a quarterly dividend on Wednesday, March 19th, RTT News reports. Investors of record on Monday, April 7th will be paid a dividend of 0.75 per share by the bank on Monday, April 21st. This represents a $3.00 dividend on an annualized basis and a dividend yield of 3.57%.

Preferred Bank has raised its dividend by an average of 22.0% per year over the last three years. Preferred Bank has a dividend payout ratio of 29.5% meaning its dividend is sufficiently covered by earnings. Research analysts expect Preferred Bank to earn $10.20 per share next year, which means the company should continue to be able to cover its $3.00 annual dividend with an expected future payout ratio of 29.4%.

Preferred Bank Trading Up 1.3 %

Shares of Preferred Bank stock traded up $1.11 during trading on Wednesday, reaching $84.04. 100,636 shares of the company were exchanged, compared to its average volume of 75,046. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 0.19. Preferred Bank has a twelve month low of $70.83 and a twelve month high of $99.78. The business has a 50-day moving average price of $87.11 and a 200-day moving average price of $86.61. The firm has a market capitalization of $1.21 billion, a price-to-earnings ratio of 8.73 and a beta of 0.93.

Preferred Bank (NASDAQ:PFBC) last announced its quarterly earnings data on Monday, January 27th. The bank reported $2.25 EPS for the quarter, missing analysts’ consensus estimates of $2.42 by ($0.17). Preferred Bank had a return on equity of 17.80% and a net margin of 25.00%. Sell-side analysts anticipate that Preferred Bank will post 9.81 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have issued reports on PFBC shares. Stephens reissued an “equal weight” rating and issued a $100.00 target price on shares of Preferred Bank in a research note on Thursday, January 30th. DA Davidson boosted their target price on Preferred Bank from $98.00 to $101.00 and gave the company a “neutral” rating in a research note on Wednesday, January 29th. Finally, Piper Sandler boosted their target price on Preferred Bank from $101.00 to $111.00 and gave the company an “overweight” rating in a research note on Friday, January 31st.

About Preferred Bank

Preferred Bank provides various commercial banking products and services to small and mid-sized businesses and their owners, entrepreneurs, real estate developers and investors, professionals, and high net worth individuals. The company accepts checking, savings, and money market deposit accounts; fixed-rate and fixed maturity retail, and non-retail certificates of deposit; and individual retirement accounts.